Tag: value of annuity
The brief’s key findings are: A growing number of people are entering retirement with more 401(k) savings and less annuity income from Social Security and traditional pensions. Annuities assure a lifelong income stream and – compared to other draw-down options – can provide attractive payouts, which can help cover late-life health costs. But few individuals…
The brief’s key findings are: Even though retirees are increasingly responsible for deciding how to draw down their assets, few buy annuities. Researchers have offered a host of explanations for the limited take-up, but the puzzle has never been solved. This analysis finds that valuing annuities is hard for people, so they may only buy…
